IMAX (NYSE:IMAX) Price Target Raised to $27.00

IMAX (NYSE:IMAX) had its price target increased by JPMorgan Chase & Co. from $25.00 to $27.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

IMAX has been the topic of several other research reports. Wells Fargo & Company increased their price target on IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday. Rosenblatt Securities lifted their price target on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday. Roth Mkm lifted their price target on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Macquarie raised their target price on IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, StockNews.com downgraded IMAX from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, IMAX currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

IMAX Price Performance

NYSE IMAX opened at $26.03 on Friday. The business has a 50 day simple moving average of $24.65 and a 200 day simple moving average of $23.03. IMAX has a one year low of $14.94 and a one year high of $27.77. The stock has a market capitalization of $1.38 billion, a P/E ratio of 53.11, a P/E/G ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX) last released its earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.14). The business had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. Equities analysts expect that IMAX will post 0.91 earnings per share for the current year.

Insider Activity

In related news, insider Kenneth Ian Weissman sold 6,309 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.51, for a total transaction of $160,942.59. Following the transaction, the insider now owns 25,139 shares in the company, valued at $641,295.89. The trade was a 20.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert D. Lister sold 55,910 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the transaction, the executive vice president now owns 138,889 shares in the company, valued at $3,541,669.50. This trade represents a 28.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,176 shares of company stock valued at $1,662,110. Insiders own 24.08% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of IMAX by 87.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,978 shares of the company’s stock worth $3,788,000 after buying an additional 68,957 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of IMAX during the 4th quarter valued at $999,000. Two Sigma Investments LP bought a new position in shares of IMAX during the 4th quarter valued at $2,411,000. State of Wyoming increased its stake in shares of IMAX by 184.6% in the 4th quarter. State of Wyoming now owns 21,606 shares of the company’s stock worth $553,000 after purchasing an additional 14,014 shares in the last quarter. Finally, Polar Asset Management Partners Inc. increased its stake in shares of IMAX by 191.6% in the 4th quarter. Polar Asset Management Partners Inc. now owns 204,536 shares of the company’s stock worth $5,236,000 after purchasing an additional 134,389 shares in the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Company Profile

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.